Ibovespa advances 0.11% after volatile session and takes off abroad; dollar falls 0.33%

The Ibovespa closed up 0.11% this Thursday (22), at 107,551 points, after a session marked by volatility. The main index of the Brazilian Stock Exchange managed to close in the positive, largely due to the shares of banks and companies from various commodity segments and managed to ignore the movement seen in the United States.

Marfrig’s common shares (MRFG3) gained 6.74% and were among the highest increases in the index, followed by JBS (JBSS3), 3.21%. Petrobras’ preferred and common shares ([ativo=PETR3;[ativo=PETR4]) increased by 1.13% and 1.78%, respectively. The ordinary shares of CSN Mineração (CMIN3), finally, gained 1.52%.

The actions of exporters mainly reflected news from China, which has been reducing the restrictions imposed by the Covid Zero policy, even though the increase in infections generates caution in the market. In addition, today the Asian giant’s state media announced that the government “will implement policy measures to support the economy and seek an improvement in growth in early 2023”.

On the local scene, according to experts, the day was lukewarm, despite new ministerial announcements made by the elected government, led by Luiz Inácio Lula da Silva (PT).

“Formalizations by the government team, as well as the Budget and the vote on the text by Congress, with the approval of the Transition PEC, no longer make such a price. Market has already priced in and suffered for it earlier this week. We had a day without major news internally”, explains Enrico Cozzolino, head of analysis at Levante Investimentos.

Nicolas Merola, head of analysis at Inv, goes the same way.

“What I can point out, in addition to the exterior, is solely and exclusively the political scenario. We didn’t have much news, despite the disclosure of the ministers. Everything was already expected and priced on the Ibovespa”, he explains. “In a way, it did not please the market. No name tends to stand out and they are received, mostly, in a negative way for being very political and not very technical”.


Lula confirmed today its deputy Geraldo Alckmin in the Development, Industry and Commerce folder, in addition to names like Camilo Santana, Alexandre Padilha and Wellington Dias in other folders.

In New York, the Dow Jones, S&P 500 and Nasdaq retreated, respectively, 1.04%, 1.44% and 2.18%.

Over there, investors had a negative impact the disclosure of gross domestic product (GDP) of the third quarter, which came with a reading of 3.2%, above the 2.9% predicted in the consensus.

“The reading of a stronger GDP, higher than expected, made investors return to the understanding that the Federal Reserve will be forced to implement a more restrictive monetary policy”, explains Matheus Spiess, an analyst at Empiricus.

The yield curve, therefore, advanced – the treasuries two-years gained 6.1 basis points, at 4.276%, while ten-years gained 2.8 points, at 3.686%.

The dollar gained strength against other developed country currencies, with the DXY going 104.38 points, up 0.20%.


Against emerging currencies, however, the dollar lost strength, largely due to the rise in commodities. Against the real, the drop was 0.33%, with the American currency traded at R$ 5.185 in purchases and at R$ 5.186 in sales.

The Brazilian yield curve was also in the opposite direction of the American one. DIs for 2024 lost 12 basis points, at 13.63%, and those for 2025, 25 points, at 13%. Contracts for 2027 were at 12.91%, down 19 points, and those for 2029, at 12.92%, down 16 points. DIs for 2031 lost 16 points as well, at 12.9%.

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